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Sequenom Announces Exercise in Full of Underwriters' Option to Purchase Additional Shares
SAN DIEGO-(Business Wire)-July 2, 2008 - Sequenom, Inc. (NASDAQ:SQNM) today announced that the underwriters of its previously announced common stock offering that priced on June 25, 2008 have exercised in full an option to purchase an additional 825,000 shares of its common stock. Including the additional shares being purchased, the offering will total 6,325,000 shares at a public offering price of $15.50 per share, resulting in expected net proceeds to Sequenom of approximately $92.0 million (after deducting the underwriting discounts and commissions and other estimated offering expenses). Sequenom expects the net proceeds from the offering to be used for the development of diagnostic tests for use on its MassARRAY(R) system and other platforms, and for general corporate purposes. The closing for this sale of additional shares is scheduled to take place on or about July 8, 2008, subject to the satisfaction of customary closing conditions.
Lehman Brothers Inc. and UBS Investment Bank are acting as joint book-running managers in this offering. The co-managers for the offering are Leerink Swann & Co., Inc., Lazard Capital Markets LLC, Oppenheimer & Co., Inc. and Rodman & Renshaw, LLC.
A registration statement relating to these securities has become effective by rule of the Securities and Exchange Commission. The sale of these securities may be made only by means of the final prospectus supplement, related prospectus and any supplemental information relating to the offering. Copies of the final prospectus supplement and related prospectus may be obtained from Lehman Brothers Inc. by email at qiana.smith@broadridge.com, by phone at 888.603.5847, by fax at 631.254.7140, or by mail at Lehman Brothers Inc., c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, or from UBS Securities LLC, 299 Park Avenue, New York, NY 10171 Attn: Prospectus Department, or by telephone toll free at 888.827.7275, extension 3884.
Sequenom(R) and MassARRAY(R) are trademarks of Sequenom, Inc.
Forward-Looking Statements
This press release contains forward-looking statements, including statements relating to Sequenom's sale of its common stock, the expected closing of the offering and expectations regarding use of proceeds from the offering. These statements are subject to significant risks and uncertainties, actual results could differ materially from those projected and Sequenom cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. There can be no assurance that Sequenom will be able to complete the public offering on the anticipated terms, or at all. Additional risks and uncertainties relating to Sequenom and its business are detailed from time to time in Sequenom's reports filed with the Securities and Exchange Commission and in the prospectus supplement related to the offering. Sequenom undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in Sequenom's expectations.
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